Originations

Pre-disaster management counseling and training issues are high up on the agenda of the Federal Emergency Management Agency.

Much has been written about mortgage sales people needing to create a social media marketing strategy. It is a great way to get positive buzz about the services provided.

Over the past three years seller/servicers have been slapped with upwards of $40 billion in loan buyback claims from Fannie Mae and Freddie Mac, and although these “requests to repurchase” are beginning to wane, the crisis still has some legs to it

Last year I focused on the critical role of the FHLBank System in providing liquidity and other benefits to FHLBank members. The primary benefit of FHLBank System membership is access to a stable and reliable source of funds at attractive rates across the maturity spectrum.

An eminent domain action this year that a recent Barclays report indicated might hurt certain investors in one CMBS deal was a one-off event that could have been worse. But it is nevertheless is worth noting as it serves as a reminder that this known but rare risk can crop up occasionally.

Today, let's look at three important guidelines for using social media on the job. Remember that once you post a comment, or make a blog entry, you have lost control of where it will go and who will see it. Of course, this is even true with verbal comments we make off-line and hard copy notes we write.

A securities regulator late this week fined two Wall Street firms with each then settling the matter which involved separate allegations that the companies misrepresented and improperly supervised certain subprime RMBS delinquency figures.

Fannie Mae issued $34.5 billion of mortgage-backed securities in April, a 36% plunge from the prior month, according to figures released by the GSE Friday morning. In April its MBS issuance rose 4.2%.

Housing starts in California rose 2% in April. It wasn't big, but builders in Golden State will take it.

Thrift institutions originated $26.5 billion of single-family loans in the first quarter, down 37% from the prior period, according to figures compiled by the Office of Thrift Supervision.

A significant sector of the housing market is still being driven by sales of bank-owned homes and those in some stage of foreclosure, according to a new report from Realtytrac Inc.

The coming change in the conforming loan limit will have a much larger impact on loans insured by the Federal Housing Administration than on those purchased or securitized by either Fannie Mae or Freddie Mac.

Two years ago, a friend of mine asked me if I was on Facebook and I replied in a somewhat haughty tone, "No, I'm not 16." Today, I'm on Facebook and Twitter, I Skype and use Meetup.com and amazingly, I've started my own social media consulting company called Social Brand U LLC. I have not only embraced social media, but I've become evangelistic about it. And, I've created a brand in the process.

Origination software provider Ellie Mae released a package of new services and features this week to promote loan quality and efficiency in the loan file review process for investors and loan aggregators.

The average rate for all types of residential loans tracked by Freddie Mac continued to decline this week and as of Thursday morning, a benchmark long-term rate-indicative bond yield on the secondary market hit a low not seen for several months.

State Employees' Credit Union, Raleigh, N.C. this week eliminated the common state CU practice of garnishing wages to collect on delinquent loans — including home mortgages — one of the first institutions to adopt the policy.

The Federal Housing Administration is getting tougher on paying claims for defaulted loans where it believes lenders have cut corners on the underwriting.

While investors believe they will be able to outbid first-time buyers in the "rush" to snap up houses at today's bargain-basement prices, a large majority apparently plan to use a combination of cash and credit to purchase properties as they build their inventories.

Sidus Financial, a nonbank mortgage firm that is at least 11 years old, is pulling the plug on its wholesale and correspondent lending division, according to correspondence provided to National Mortgage News.

A legislative proposal to eliminate the $271,050 loan limit “floor” on Federal Housing Administration-insured loans ran into strong opposition at a congressional hearing Wednesday.